Welcome to issue #22 of our recently launched Q&A series, Startup Spotlight.
This series is all about diving into the world-class technological innovation conducted by exciting startups. Getting to grips with the technology, the mission, and even the stories behind them.
In each edition, we sit down with a different startup founder, leader, or operator in an easily digestible conversational style Q&A format.
Today we have the pleasure of interviewing Vishnu Chundi, CEO of AssetVault, to talk about AasaanWill – the product that promises to legally secure your assets and the future of your loved ones, from the comfort of your living room.
Highlights:
- âś… How AassanWill uses technology to combat future family disputes
- ⚖️ A legally valid online will service that won’t break the bank
- 👋🏽 Bye-bye paper trail, hello digital footprint
The will. People don’t really talk about that stuff, do they? It’s something many of us are guilty of putting off. It’s there in the back of your mind, but it’s not quite important enough to do anything about. And what a lot of work! It’s time-consuming, complicated and expensive, right? Wrong.
AasaanWill have made it quick, easy and affordable.
More than 90% of Indians don’t have a will. Making a will is often triggered by unexpected circumstances – like divorce, critical illness or the death of a loved one. But wouldn’t it take the pressure off knowing it’s all in hand before anything untoward happens?
Even though a lawyer reviews your AssaanWill, there’s no need to worry about extortionate legal bills. What makes AasaanWill so attractive is that you can do the whole thing through WhatsApp. Wow! 👇
But, what makes AasaanWill stand out from the competition?
How are they attempting to change current behaviours towards making a will?
And finally, what’s the next step?
Vishnu gave us an insight into the world of AasaanWill. Here we go.👇
What is the mission of your company?
We are on a mission to educate, simplify and assist the aspirational class in writing a legally valid Will from the comfort and security of their home.
Close to 1% of India’s GDP is lost each year due to civil disputes. Majority of these are between family members for unavailability of a valid Will.
How are you using technology to help solve that problem?
In an increasingly digital world, many assets today leave digital footprints rather than paper trails. Through our easy to use digital product we help log these assets and then easily distribute as per wishes of the testator.
Typically this process is done through finding a reliable lawyer or a financial planner. AasaanWill makes Will writing very convenient and affordable using technology.
What's your unique selling point?
All AasaanWills are personally vetted by a qualified lawyer and are available at a fraction of a cost sitting in the comfort of home as compared to obtaining a Will through a lawyer office.
Below is a brief competition analysis of AssetVault.
What have been the greatest challenges to date?
Will writing is not a natural behavior. It does not provide an immediate reward.
It falls into the quadrant of Important but Not urgent.
The analogy is that of exercise. You need to workout today to have a much healthier life years later.
Creating urgency and a psychological reward mechanism has been challenging. In a post Covid world, we are all realizing how transient life is and the need to get on top of our financial affairs.
We are overcoming this with our partnerships with charity and corporations.
What major milestones have you achieved, and what's next!?
In the last 3 months of our soft launch in India, we have crossed 250 signups. Our next step is to build our platform further to incorporate reward mechanisms and gamification to grow to 1000 Wills written.
Thanks, Vishnu!
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